CSR Guidelines for the Financial Sector - page 17

CSRGUIDELINES FOR THE FINANCIAL SECTOR
2
The CSRCommitment of anOrganization
We have noticed inmany instances that organizations
with a relatively high degree of commitment toCSR, find
it difficult to represent and reflect such commitment.
Whodrives the commitment?
TheCEO and the board of directors are usually tasked
with creating the organization’s strategy and providing
the general direction for operation. They provide the
leadershipmodel and influence the organization’s
culture and operational modes.
Therefore, it is only when the board of directors and the
CEO are committed to improveCSR by aligning the
organizational goals with environmentally and socially
responsive actions, and are actively practicing and
promoting responsible business behavior, will an
organization be able to quantify the returns onCSR
investments and begin to realize its full benefit.
To showcase an organizations commitment toCSR, it is
of value to consider the following:
a. How clear is it?
b. Is it stated internally and publicly?
c. Has everyonewithin the organization bought into the
CSR definition and scope
d.Was this a result of theCSR Leadership’s Teamwork
or enforced on by organizations leadership
2. A representative commitment toCSR.
a. Is CSR part of the organizationsmission or vision
statement?
b. Does the organization have aCSR related vision or
mission statement?
Awell articulatedmission statement that clearly defines
the corporate goals and its commitments to the different
stakeholders, is a valuable tool to be used to create
awareness of corporate sustainability
3. CSRObjectives and Targets.
a. Does the organization haveCSR objectives and
targets?
b. Is CSR performancemeasured?
c. AreCSR objectives and targets communicated
effectively and is the organization accountable to
achieve them? Are the employees held accountable to
achieve them?
This is not an exhaustive list but a valuable list to
consider on how to reflect your commitment toCSR.
In ascertaining theCSR commitment of the financial
sector, we asked through theCSR survey if therewas
senior buy-in relating toCSR. The responses received
can be represented as follows:
Is there senior buy-in for CSR?
Strugglingwith getting senior buy-in for CSR?
Check out the troubleshooting chart attached
inAnnex A
Taking the above into consideration, and in order to
effectivelymove forwardwithCSR and ensure the
necessary commitment and buy in, it is important for an
organization to undertake aCSR Assessment.
Yes
No
Maybe
84%
12%
4%
1...,7,8,9,10,11,12,13,14,15,16 18,19,20,21,22,23,24,25,26,27,...87
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